The house sits on land and that is in a good school district or otherwise desirable location. That is worth something to someone and why properties become more

The house sits on land and that is in a good school district or otherwise desirable location. That is worth something to someone and why properties become more valuable. When land and development is constrained you have to go up to support the density or out. All new communities are basically townhome communities across the US except in some places where land is not constrained... even then the homes are very similar and sit next to each other. It increases the affordability.. This makes existing homes on larger lots worth more b/c you get space despite needing to remodel the 1960s decor. But you get a nice view.